←back to thread

El Salvador abandons Bitcoin as legal tender

(ticotimes.net)
927 points smallerfish | 1 comments | 04 Feb 25 00:00 UTC | HN request time: 0.203s | source
Show context
portaouflop ◴[04 Feb 25 02:07 UTC] No.42926658[source]▶
IMF gave them 1.4 billion to abandon the “experiment”:

> The IMF made this a condition for a loan of 1.4 billion US dollars (1.35 billion euros). In December of last year, the IMF reached an agreement with President Nayib Bukele’s government on the loan of the stated amount to strengthen the country’s “fiscal sustainability” and mitigate the “risks associated with Bitcoin,” as it was described.

—-

I dislike cryptocurrencies as much as the next guy but this was clearly something else than a failure of the currency itself

replies(30): >>42926697 #>>42926752 #>>42926769 #>>42926916 #>>42927021 #>>42927075 #>>42927122 #>>42927290 #>>42927312 #>>42927357 #>>42927505 #>>42927532 #>>42927536 #>>42927642 #>>42927745 #>>42927985 #>>42928058 #>>42928513 #>>42928720 #>>42928756 #>>42928806 #>>42929654 #>>42929949 #>>42930337 #>>42930726 #>>42930753 #>>42930779 #>>42930984 #>>42934734 #>>42935466 #
1. taurknaut ◴[04 Feb 25 06:30 UTC] No.42928806[source]▶
1.35 billion dollars is an awfully small amount to purchase the promise of not developing a sovereign currency. By a couple orders of magnitude.